Bloomberg Tax
Oct. 30, 2021, 4:11 PM

G-20 Heads Endorse Global Tax Accord, Capping Years of Talks (1)

Christopher Condon
Christopher Condon
Bloomberg News

Leaders of the world’s biggest economies formally backed an ambitious plan to overhaul the way countries tax multinational companies in a bid to stem competition for the lowest rates.

All of the leaders at a Group of 20 summit in Rome endorsed the new rules on Saturday, “including a global minimum tax that will end the damaging race to the bottom on corporate taxation,” U.S. Treasury Secretary Janet Yellen said in a statement.

A senior U.S. administration official, traveling with President Joe Biden, earlier called the plan a historic reshaping of the rules for the global economy that will ...

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